According to customs data, in the first half of 2024, China's cumulative total import volume of methanol was 6.3026 million tons, a decrease of 398,400 tons compared with the same period last year and a year-on-year decrease of 5.95%. Among them, the month with the largest monthly import volume occurred in January, and the monthly import volume was approximately 1.3833 million tons, reaching the peak level in recent years.

From the perspective of importing countriesIn the first half of 2024, there are 28 methanol importers in my country, of which the top five countries in terms of imports from January to June are United Arab Emirates, Oman, Saudi Arabia, Trinidad and Tobago and Iran, accounting for 26%, 25%, 11%, 9%, and 7% of the total imports respectively. The Middle East is still my country's main import source of methanol.

in terms of exportsIn the first half of 2024, China's cumulative methanol exports totaled 22,700 tons, a decrease of 40,500 tons compared with the same period last year and a year-on-year decrease of 64.08%. Among them, the month with the largest monthly export volume occurred in May, with a monthly export volume approximately 11,200 tons.

From the perspective of importing countriesIn the first half of 2024, there are 25 countries importing methanol in my country. Among them, the top five countries exporting from January to June are Indonesia, with exports of 7,348.74 tons, accounting for 32% of the total exports, followed by Vietnam, with exports of 7,253.94 tons, accounting for 32% of the total exports. South Korea's total exports are 6,253.61 tons, accounting for 28% of the total exports. Myanmar exported 529.77 tons. Denmark exported 504.59 tons, accounting for 2% of total exports.

.

Looking back at the import and export situation in the first half of the year, my country's total methanol imports remained high in January. The arrival of imported ships and cargo to Hong Kong decreased significantly in February and March. It was mainly affected by factors such as the parking and maintenance of overseas units and the weather. Imports decreased significantly year-on-year. However, after entering the second quarter, with the restart of the early parking equipment and the end of the natural gas restriction policy, the start of the international market rebounded sharply, and methanol imports increased significantly compared with the first quarter. The average monthly import volume is basically around 1.05 - 1.1 million tons, but the gap between the overall import volume and the same period last year is still significant.

Looking at the second half of the year, with the end of the overhaul of overseas methanol units, the international methanol market has started or gradually recovered, and new equipment production capacity is still released overseas in the second half of the year. According to incomplete statistics, a 1.7-million-ton methanol unit in Malaysia and the United States is scheduled to be put into operation in the second half of 2024. The planned commissioning time is around the end of July and August respectively. Russia's 1.8-million-ton and Indonesia's 1.80-ton units are expected to be put into operation by the end of 24. If the plant is put into operation as scheduled, my country's methanol imports will increase or be reflected in the second half of the year. In addition, considering that my country's methanol downstream market demand may recover in the second half of the year, the demand for imported methanol will also increase. On the whole, it is expected that the arrival of Chinese methanol imports in Hong Kong may increase in the second half of 2024, and the total import volume may be higher than that in the first half of 2024. However, it is necessary to pay close attention to the arrival of imported ships and cargo in Hong Kong and the commissioning of international installations in the later period.